Birmingham serviced office complex acquired in new deal
A Birmingham serviced office complex has been acquired by property investors in an off-market deal.
MCR Property Group has purchased Lonsdale House, Blucher Street, from London and Scottish to expand its commercial portfolio.
The 1960s block, which comprises 33,000 sq ft of office space spread over five floors, is close to The Mailbox.
The property had been advertised at a guide price of £3.5m.
Lonsdale House is fully let, with current occupancies expected to end in December 2018.
Iain Stott, of MCR Property Group, said: “Lonsdale House adds to our strong commercial portfolio of more than 85 key assets, including over 30 office developments, 3 million sq ft of industrial space, a number of hotels and an airport.
“A growing population and increased confidence from government, as reflected by the Midlands Engine agenda, means Birmingham is undergoing significant transformation. For this reason, the city is naturally a primary investment location for us.
“Birmingham New Street station, some 350 yards from Lonsdale House, was a major catalyst for our investment – excellent transport links makes Birmingham a commuter hub, attracting world-renowned businesses to the area as a result.”
MCR is no stranger to the city and includes Cobalt Square and Monaco House, which has gone into planning to deliver more than 1,000 new homes for rent, in its portfolio.
